Primerica, Inc. (NYSE:PRI) Receives Consensus Rating of “Hold” from Analysts
by Mitch Edgeman · The Markets DailyPrimerica, Inc. (NYSE:PRI – Get Free Report) has received a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $297.80.
A number of analysts recently weighed in on PRI shares. Zacks Research lowered shares of Primerica from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Morgan Stanley upped their target price on shares of Primerica from $280.00 to $291.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Weiss Ratings upgraded shares of Primerica from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Primerica from $290.00 to $305.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th.
Read Our Latest Analysis on PRI
Primerica Stock Performance
Shares of PRI opened at $271.97 on Friday. The company’s 50-day simple moving average is $270.00 and its 200-day simple moving average is $262.29. Primerica has a 1 year low of $230.09 and a 1 year high of $288.03. The stock has a market capitalization of $8.48 billion, a PE ratio of 11.40 and a beta of 0.88.
Primerica (NYSE:PRI – Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $5.96 earnings per share for the quarter, topping analysts’ consensus estimates of $5.45 by $0.51. Primerica had a net margin of 22.99% and a return on equity of 32.32%. The firm had revenue of $872.30 million for the quarter, compared to analyst estimates of $855.36 million. During the same period in the prior year, the firm earned $5.02 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Primerica will post 24.45 earnings per share for the current year.
Primerica Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 21st will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, May 21st. Primerica’s dividend payout ratio is presently 20.13%.
Insider Buying and Selling at Primerica
In related news, President Peter W. Schneider sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $279.64, for a total transaction of $503,352.00. Following the sale, the president directly owned 9,811 shares in the company, valued at approximately $2,743,548.04. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.63% of the company’s stock.
Hedge Funds Weigh In On Primerica
Several hedge funds have recently added to or reduced their stakes in the stock. Alpine Woods Capital Investors LLC purchased a new position in Primerica in the first quarter valued at approximately $2,415,000. Amundi increased its stake in Primerica by 5.5% in the first quarter. Amundi now owns 31,334 shares of the financial services provider’s stock valued at $7,849,000 after purchasing an additional 1,640 shares during the last quarter. California State Teachers Retirement System increased its stake in Primerica by 19.5% in the first quarter. California State Teachers Retirement System now owns 37,259 shares of the financial services provider’s stock valued at $9,333,000 after purchasing an additional 6,092 shares during the last quarter. Royal Bank of Canada increased its stake in Primerica by 6.4% in the first quarter. Royal Bank of Canada now owns 42,103 shares of the financial services provider’s stock valued at $10,546,000 after purchasing an additional 2,528 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in Primerica by 62.2% in the first quarter. Quantinno Capital Management LP now owns 122,988 shares of the financial services provider’s stock valued at $30,806,000 after purchasing an additional 47,147 shares during the last quarter. 90.88% of the stock is currently owned by hedge funds and other institutional investors.
About Primerica
Primerica, Inc is a financial services company that focuses on delivering term life insurance and investment products to middle-income households in the United States and Canada. The firm operates a network of independent, licensed representatives who provide personalized guidance on coverage needs, retirement planning, and wealth accumulation. Primerica’s core mission is to help clients obtain affordable life insurance protection while also offering a suite of savings and investment solutions designed for long-term financial security.
In addition to term life insurance, Primerica offers a range of financial products and services that include mutual funds, annuities, auto and home insurance through partner carriers, and personal lending solutions such as secured and unsecured loans.
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